Challenges aside, GTA multires has big believer in KIN

RENX  Residential  •  Apartments  •  Toronto / GTA

KIN Capital Partners is partnering with Castlepoint Numa and Forthlane Partners to build two high-rise residential towers in the Weston area of Toronto as the company continues to expand in the Greater Toronto Area (GTA) housing market.

F.N. development to create Van.’s densest community

Residential, Commercial  •  Globe and Mail  •  RENX  •  Globe and Mail

In the narrow strip of land bordering Vanier Park on Kitsilano Point, there’s little sign that it’s about to become the entryway to one of the densest neighbourhoods Vancouver will likely ever see.

Tesla in talks with Queen’s Park for gigafactory

Commercial  •  Torque News

Electric vehicle manufacturer Tesla has initiated talks with the Ontario government about improving the province’s competitiveness for attracting manufacturing facilities, per lobbyist registry documents recently filed with the province.

More stores opening at Calgary’s New Horizon Mall

Commercial  •  CBC  •  RENX

Businesses in New Horizon Mall say things are looking up for the troubled shopping centre north of Calgary. The $200-million Asian-inspired mall opened in 2018 with only nine of its 517 units open for business at the time.

Alberta pilot project creates new industrial zone

Commercial  •  Daily Commercial News

Alberta is looking to create a new zone to boost investment. Officials explained the pilot project in Alberta’s industrial heartland will reduce red tape and streamline regulatory approvals to help attract new investment and create jobs.

Hardrock Properties hasn’t forgotten its family roots

Residential, Commercial  •  Calgary Herald

Fond memories of growing up on the family farm near Yorkton, Sask., have been retained in the name of Ron Holowatuk’s Calgary development company, Hardrock Properties Corp. He and his siblings enjoyed playing on a huge rock on the farm.

Sponsored by Austin Birch Austin Birch assesses uneasy market in latest report

Taking a much-needed look into the realities of today’s pre-construction market, the GTA’s leading pre-construction advisors share their insights in the latest Austin Birch Report. Illuminating hard truths and fears in the industry, this report is not to be missed.

Canadian Tire profit falls 30% even as sales gain

Commercial  •  Globe and Mail (Sub. required)  •  Canada Newswire  •  Financial Post

Canadian Tire Corp. Ltd. (CTC-T) profits fell by more than 30 per cent in Q2 even amid increased sales, as the company incurred costs related to an operational efficiency program and to pulling its Helly Hansen business out of Russia.

Nicola temporarily transforms Vancouver hotel

Commercial  •  Globe and Mail (Sub. required)  •  RENX

Last year Nicola Wealth Real Estate purchased Vancouver’s notoriously bleak City Centre Motor Hotel. It has converted it into an arts lodge while waiting to redevelop it with a proposed two-tower, purpose-built mixed-use project of 330 rental units.

T.O. Airbnbs almost as costly as hotels, figures show

Residential  •  Globe and Mail (Sub. required)  •  CTV

Staying in an Airbnb rental may be only marginally less expensive than sojourning in a hotel, at least for small parties booking short-term stays, an AirDNA analysis of short-term rental and hotel prices in Toronto shows.

Real World of Real Estate › Podcast: Real estate marketing strategy with Publish Partners

Gerald Tostowaryk:

REIT second-quarter financial results

Residential, Commercial  • 

Automotive Properties REIT, (APR-UN-T), Canada Newswire
CAPREIT, (CAR-UN-T), Globe Newswire
Granite REIT, (GRT-UN-T), Business Wire
H&R REIT, (HR-UN-T), Canada Newswire
Inovalis REIT, (INO-UN-T), Business Wire

Peloton to close all warehouses, number of stores

Commercial  •  Bisnow

Peloton will slash stores, close its North American warehouses and lay off nearly 800 employees, adding to the thousands of people it laid off earlier this year amid a post-lockdown slump.

CP-KCS deal wins OK from U.S. committee

Commercial  •  Toronto Star

Canadian Pacific Railway says it has received regulatory approval from the Committee on Foreign Investment in the U.S. for its acquisition of Kansas City Southern in an agreement valued at US$31 billion, including the assumption of US$3.8 billion of debt.

WSP Global CEO eyes more takeovers

Commercial  •  Globe and Mail (Sub. required)

WSP Global Inc. (WSP-T) is eyeing more takeovers as the Canadian engineering giant pursues its relentless growth in a quest to play a defining role in shaping global infrastructure and solutions to the climate change crisis.

Hong Kong industrial going from strength to strength

Commercial  •  South China Morning Post

Mattamy taps Enwave geothermal for Markham homes

Residential  •  Sustainable Biz Canada

Sustainable energy company Enwave Energy Corp., has received $818,367 from the government, Mattamy Homes and The Atmospheric Fund for a pilot program to heat and cool hundreds of new neighbourhood homes with geothermal power.

Annual pace of housing starts up 1.1% in July: CMHC

Residential  •  Toronto Star  •  Canada Newswire

Canada Mortgage and Housing Corp. says the annual pace of housing starts in July increased 1.1 per cent from June despite a slowdown in urban starts. The seasonally adjusted annual rate of housing starts in July was 275,329 units.

Ottawa needs more than 100,000 new homes by 2031

Residential  •  Ottawa Citizen

A new report from the University of Ottawa-based Smart Prosperity Institute determined Ottawa’s housing stock would need to grow by 100,100 homes between 2021 and 2031 to address the existing shortage.

Bottom still a ways off for housing market: RBC

Residential  •  Financial Post  •  Financial Post

Since March, home sales have fallen 31 per cent and benchmark prices almost six per cent nationwide. “And the bottom is likely many months away still as our central bank has more work to do,” RBC economist Robert Hogue wrote.